Fed lowers outlook for economy through 2011

Updated 9:00 AM Wednesday Nov 24, 2010 Share Email Print WASHINGTON – Federal Reserve officials have become more pessimistic in their economic outlook through next year and have lowered their forecast for growth. The US economy will grow only 2.4 per cent to 2.5 per cent this year, Fed officials said Tuesday in an updated forecast. That’s down sharply from a previous projection of 3 per cent to 3.5 per cent. Next year, the economy will expand by 3 per cent to 3.6 per cent, the Fed said, also much lower than its June forecast. Fed officials project that unemployment won’t change much this year, averaging between 9.5 per cent and 9.7 per cent. The current unemployment rate is 9.6 per cent….

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Fed lowers outlook for economy through 2011

Posted by on November 23, 2010. Filed under News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry